Loan Completion Process

Loan Completion Process Loan Completion Process - Start

2017-08-21 63K 63 0 0

Loan Completion Process - Description

Jay Coomes, Fiserv. Joe Dahleen, SME. Considerations:. Unit Throughput. Production volume fluctuations. Origination Regulation. Servicing Regulation. Established Loan Processing Domains. Loan Completion: Operational Goals. ID: 580755 Download Presentation

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Loan Completion Process




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Presentations text content in Loan Completion Process

Slide1

Loan Completion Process

Jay Coomes, Fiserv

Joe Dahleen, SME

Slide2

Considerations: Unit Throughput Production volume fluctuations Origination Regulation Servicing Regulation

Established Loan Processing Domains

Slide3

Loan Completion: Operational Goals

Ensure compliance Reduce risk Improve processor efficiencies Increase customer satisfaction Decrease Cost Ensure Revenue

Loan

Origination

Regulatory

Compliance

Loan

Servicing

Completion

Process

Slide4

Loan Completion Process: Tasks

Loan

Origination

Regulatory

Compliance

Loan

Servicing

Completion

Process

Pre-Close

Audit

Post-Close Audit

Trailing

Documentation

Document Logging and Tracking

Post Close QC

Recurring Commercial Audits

Confirmation of doc receipt

Loan Audit Delivery

Loan Insurer Delivery

Loan Investor Delivery

Pool Quality

Review

. . .

Slide5

Today’s Results

Slide6

Poor processing and documentation quality Lack of regulatory compliance Low customer satisfaction

Current Loan Completion Process: Results

Slide7

Non-standard, Disparate solutions Home grown tools: Access Databases Excel Spreadsheets PDF Documents Some specific 3rd party solutionsAll are used to accomplish the completion of loan processing! With expected results!

Loan Completion Process: Environment

Slide8

Standardize Loan Completion Process

Standardization Steps: Define the overall process Identify task within each step of the process Automate as much as possible Provide for flexibility of an ever changing regulatory landscape

Loan

Origination

Regulatory

Compliance

Loan

Servicing

Completion

Process

Slide9

Loan Completion Process Automation

LOS Integration & Doc Scanning

Capture

Verification/Confirmation

Confirm

Package

Delivery

Deliver

Tracking Doc Location

Track

Quality

Reviews

Review

Loan Completion Operational Process

Slide10

Automated Loan Completion Process

Yields a successful,

trackable and complete transfer of the loan to its Ultimate Destination

Slide11

Slide12

Improve loan quality to loan level deficiency and detection

Close wasteful gaps in processing and fulfillment

Increase warehouse velocity – while avoiding delay and risk

Proactive approach to re-purchase risk

Increase performance by leveraging technology thus reducing FTE

Reduce cost during the lifecycle of the loan

Slide13

Loan

Complete

Loan

Servicing

Loan

Origination

Regulatory

Compliance

Provides a life of loan solution

Integrates with Fiserv’s loan origination, servicing

solutions

Executes standardized workflow processing at each

phase

Includes data and document content management

Provides data quality stage gates, audit checks and data element analytics

Fiserv’s

LoanComplete

Solution

Slide14

Joe Dahleen [guest speaker]

Mortgage Technology Consultant and Chief Strategy Officer

[whitepaper on Loan Completion Process]

Slide15

Another View at the Loan Completion Space

Slide16

Life

of Loan

Loan Completion Operational Functions

Slide17

17

Life

of Loan

Loan Completion: Regulatory/Compliance

State Licensing Management Lawsuit Case Management CFPB Complaint Processing CFPB Self Examination – Default Loans CFPB Self Examination – Core Servicing

LoanComplete

: Workflows

are designed to accelerate business processes, both content and case-based, while reducing costs associated with risk management and regulatory compliance mandates

Slide18

Compliant Processing – Highest priority outtakes from CFPB

Slide19

19

Life

of Loan

Loan Completion: Loan Origination

Loan Origination Document Routing Loan Closing Document Routing Customer Service Case Management

LoanComplete

: Workflows

have been designed to track and react , maximizing the consumer experience and minimizing the processing timeline.

Slide20

Life

of Loan

Loan Completion: Quality Control

Investor Delivery Document Readiness Review Loan Sale Due Diligence Processes Pool Allocation Management

LoanComplete

: Designed

to support requirements for providing deep loan level data, remotely viewable documents, standardized packaging and

eDelivery

.

Slide21

Life

of Loan

Loan Completion: Loan Servicing

Loan Servicing Acquisition/Sale Review Early Default Review PreForeclosure Review Payoff Review Loan Modification Document Routing

LoanComplete

: Workflows

are designed to improve the loan servicing review processes by leading the reviewer thru configurable workflows and routing exceptions for action, reducing risk and costs.

Slide22

New and Expanded Operational Procedures from CFPB

Examination on consumer-facing aspectsDefault servicing and foreclosure – including collections, bankruptcy, loss mitigation and foreclosuresCore servicing – including servicing transfers, payment processing, escrow accounts, Credit reporting and information sharing and privacy

Focus is on UDAAP compliance

Timely, clear and accurate disclosures to borrowers,

Proper application of fees and payments, including those associated with foreclosure

Consistent and fair application of loss mitigation and foreclosures related activities, especially where there is judgment applied that could lead to disparate treatment

Slide23

Life

of Loan

Loan Completion: Secondary Market

Agency Prefunding QC Audit Agency Post Closing QC Audit FNMA/FHLMC Post Close QC – Legal Docs GNMA Post Closing Review Pre Loan boarding data validation

LoanComplete

: Workflows

are designed to

ensure

the quality of each loan meets

standards

and requirements established by

investor

, lender and loan servicer, reducing risks and improving processor effectiveness.

Slide24

The Hiring Strain

ProblemExperienced Employee Talent is in high demandHiring untrained employees shift pressure to training Money and Time miss aligned in staff assignedCapacity planning on Human capital opens gaps

Solution

Leverage technology to lower operating cost

Increased efficiency through reduction in manual labor

Minimized time delays with intelligent pre-defined workflow

Simplify audit review with movement of data and documents

Slide25

Loan CompletionThe New Lending Application Domain

Features – Joe Slide

Slide26

What’s Next ?

Stop by the Solution Showcase to see more about the Fiserv LoanComplete family of ProductsAsk you Fiserv Representative for more information Read Joe’s Whitepaper defining the Loan Completion SpaceAttend the PwC session regarding the CFPB and learn how the LoanComplete technology can apply Stay tuned for more on the Loan Completion Space and what Fiserv is

26

Slide27

Jay.coomes@fiserv.com

000-000-0000

Jay Coomes

jdahleen@comcast.net

206-499-4888

Joe Dahleen


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